In the insurance industry, leaders must take an offensive position to find success which can be achieved by using data to deliver business advantages to insurers.  With improved competitive position, optimized data analytics, transformation, and visualization provided by Single View technology, insurers can utilize data to grow business. Single View resources allow insurers to gain 360-degree insights on customers improving engagement, while decreasing costs.

Traditional data management systems can take up to 8 months to collect, steam, and analyze data. Single View technology cuts out manual coding and provides users with automated data collection that answers who, what, when, and how. Single View technology helps insurers predict the future behavior of a buyer which improves forecasting accuracy and up-selling opportunity.

With a transformational graph-database, users are provided with visuals that make data easy to understand. This data can be used to target new and existing customers and identify a consumer’s preferred method of communication, all in real-time. Automated systems help to answer the questions:

What are my customers doing?

What will my customers do?

How should I respond in the future?

“Consumers are more open to sharing data if they get something of value in return.  Providing insights and preventing future pain has value, and when done right can create a meaningful differentiation,” said Mariel Devesa, the former head of innovation at Farmers Insurance.

Single View technology also helps ensure compliance by handling private data with care. Insurers who utilize Single View technology can expect greater customer engagement and reduced costs due to automated data analysis.

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